Global Polymer Battery Market - WishTree Insight

Global Polymer Battery Market by Product (Lead Acid, Ni-cd, Nickle Metal Hydride, Li-ion), Application (Industrial, Automotive, Portable), and Regions (APAC, Europe, North America, and LAMEA) - Global Industry Analysis, Share, Growth, Trends, Size, and Forecast 2022 – 2032

The Polymer Battery market size was valued at USD 109 billion in 2022 and is expected to surpass USD XX billion by 2032, expanding at a CAGR of 15.1 % during the forecast period, 2022–2032. The market's growth is attributed to the high demand for automotive applications and the increasing popularity of consumer electronics.

INTRODUCTION

A polymer battery is a type of rechargeable battery that uses a polymer electrolyte instead of a liquid electrolyte. The electrolyte in a polymer battery is a solid polymer material, typically a gel or film, which is more flexible and lighter than traditional liquid electrolytes.

Advantages of polymer batteries over traditional batteries include

• Improved safety: Polymer batteries are less prone to leakage and are more flexible, making them safer to use than traditional batteries.
• Lighter weight: Polymer batteries are lighter than traditional batteries, making them ideal for use in portable devices.
• Longer lifespan: Polymer batteries have a longer lifespan than traditional batteries, due to their higher stability and reduced risk of leakage.
• Improved performance: Polymer batteries have a higher energy density and can be charged faster than traditional batteries.
• Polymer batteries are commonly used in portable electronics such as laptops, smartphones, and wearable devices. They are also used in electric vehicles and other applications where lightweight and high-performance batteries are required.

Market Trends, Drivers, Restraints, and Opportunities

• Increasing popularity of consumer electronics on a global scale is expected to propel the market.
• Increasing demand for portable electronics including smartphones, LCDs, tablets, and wearable devices driving the market growth.
• Technological advancements in terms of cost-effectiveness enhanced security, and product innovation is expected to boost the market growth.
• The growing attention towards fuel efficiency by the government authorities of developed countries is anticipated to drive market growth.

Scope of the Report

Market Segment Insights

The lead-acid segment is projected to register a considerable share of 30.1%

Based on product, the polymer battery market is divided into lead-acid, Ni-cd, Nickle metal hydride, Li-ion. The lead-acid segment is expected to expand rapidly during the forecast period owing to the high use of uninterrupted power supply devices in the oil & gas, the chemical sector, and healthcare. The constant power supply, high reliability, and low cost are driving the use of lead-acid batteries in various applications. However, the lithium-ion segment is anticipated to hold a key share of the market in the coming years owing to its growing demand for electric vehicles and grid storage that offers high energy density solutions and lightweight.

The automotive segment is projected to expand at a rapid pace

Based on application, the polymer battery market is divided into industrial, automotive, and portable. The automotive segment is expected to expand rapidly during the forecast period owing to increasing demand for EVs, HEVs, and plug-in hybrid vehicles. However, the portable segment is anticipated to hold a key share of the market in the coming years.

Asia Pacific holds the largest revenue share

In terms of regions, the polymer battery market is classified as APAC, Europe, North America, and LAMEA. The market of Asia Pacific holds the largest revenue share and is expected to constitute a key share of the market during the projected period owing to growing automobile production, coupled with rapid development in the industrial sector generating high demand in the region. However, the market in North America is anticipated to expand at a rapid pace during the forecast period owing to a decrease in the cost of Li-ion batteries, increased sales of consumer electronics, the growing renewable sector, and the rapid adoption of electric vehicles. Moreover, Europe is expected to create lucrative growth in the market on account of increasing electric vehicle production.

Competitive Landscape

Key players competing in the Polymer Battery market are GS Yuasa International Ltd. (Japan); Hitachi Chemical Co., Ltd (Japan); Johnson Controls (U.S.); Toshiba Corporation (Japan); Eveready Industries (India); LG Chem Ltd. (South Korea).

FAQs

Mention the market size of the Polymer Battery in 2022.

The market size of the Polymer Battery in 2022 was USD 109 billion.

During the forecast period, what is the CAGR of the market?

During the forecast period, the CAGR of the market is expected to be 15.1%.

What are the key drivers of the market?

The market's growth is attributed to the high demand for automotive applications and the increasing popularity of consumer electronics.

What segments are covered in the Polymer Battery report?

The segments covered in the report are product (lead acid, Ni-cd, Nickle metal hydride, li-ion), and application (industrial, automotive, portable).

Mention which region is expected to hold the highest share of the Polymer Battery market.

The Asia Pacific region is expected to hold the highest share of the Polymer Battery market.

Which segment holds the largest market share in the Polymer Battery by 2032?

The automotive segment holds the largest market share in the Polymer Battery by 2032.

Mention the key players in the market.

GS Yuasa International Ltd. (Japan); Hitachi Chemical Co., Ltd (Japan); Johnson Controls (U.S.); Toshiba Corporation (Japan); Eveready Industries (India); LG Chem Ltd. (South Korea).